This may be an overly ambitious strategy considering that I am inexperienced in both DIY and sales contracts, but in theory it seems like a very efficient option.

I’m not a professional in acquisition or financing, but I’ll share some thoughts from my personal experience.Building Codes and Zoning Ordinance: research your local zoning laws and building codes.

Househacking is a great option since there are lots of ways to accomplish that here too.

All the book examples out there seem to only point to making cash offers on deals found this way.I realize that if it's too distressed, a bank won't lend on it and other financing will be necessary (hard money, partnership, private lenders, etc).

We were approached with a creative financing offer and it sounds really shady.

The city gave me 3 options: 1) return the unit to a garage, 2) get an architect or draftsman to draw up the building plans and then pull permits, or 3) get a structural engineer to "stamp" it and say that it's up to code.

Connect with @Joseph Chiofalo for mortgage options in SC he supports a lot of STR investors. 

How did you finance this deal?

These sites typically provide extensive catalogs of floor plans designed by professional architects and designers, offering customization options to suit different budgets and project requirements.

If I’m putting 20% down, that’s $29,000 down and I’m financing $116,000.